You have received the following financial statements of Pie Ltd for the year ended 30 April 2003,

Question:

You have received the following financial statements of Pie Ltd for the year ended 30 April 2003, but you do not have the company's Balance Sheet for the previous year.

Further information relevant to the year ended 30 April 2003: 

1. Motor vehicles which had cost $35 000 were sold for $6000. 

2. Plant and machinery which had cost $90 000 was sold for $35 000. 

3. The freehold premises were purchased on 1 May 1993 for $400 000. They had been depreciated annually at a rate of 4% on cost. 

4. $40 000 debentures had been redeemed at par on 31 October 2002. 

5. The company redeemed its 6% preference shares at a premium of $0.15 on 1 May 2002. The shares had been issued at $1.20. The redemption was financed by an issue of 50 000 ordinary shares at $2.00 each.


Required 

Prepare Pie Ltd's Balance Sheet as at 30 April 2002.

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